Fink Aims to Boost Infrastructure to as Much as $30 BillionSabrina Willmer
BlackRock Inc.’s Chief Executive Officer Laurence D. Fink said his firm is seeking to run as much as $30 billion in infrastructure investments, five times as much as it manages now.
“The best way of creating great jobs and quality of life is through improvement of infrastructure,” Fink said on Tuesday at the Pensions and Investments conference in New York. BlackRock’s clients are also “desperate” for higher-yielding assets, so infrastructure is an attractive investment, he said.
BlackRock, the world’s largest money manager, is expanding offerings targeting infrastructure projects such as roads and bridges as it seeks alternatives to traditional bond investments, whose returns have been eroded by years of near-zero interest rates. The firm this month agreed to buy Infraestructura Institucional, a Mexican infrastructure investment firm, to expand its presence in the country.
BlackRock manages $4.8 trillion in assets across mutual funds, exchange-traded funds, institutional accounts and alternative investments such as hedge funds.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Producer and DJ Known as Avicii Has Been Found Dead
- Deutsche Bank's Bad News Gets Worse With $35 Billion Flub
- Wells Fargo's $1 Billion Pact Gives U.S. Power to Fire Managers
- Oil Erases Losses as Impact of Trump Tweet on High Price Fizzles
- The U.K. Just Went 55 Hours Without Using Coal for the First Time in History